EM Local Markets: from Last Hike to First Cut
This post places the pending policy transition in the context of prior, post-GFC periods in order to assess the momentum behind the asset class and the appropriate positioning across countries.
Value Stands Out
As a leader in active fixed income, we combine our local expertise with deep credit research resources as we seek to uncover value and deliver long-term returns for our clients.
Blogs
Assessing Central Bank Credibility in Emerging Markets
The persistence of inflation in many EMs puts their hard-earned policy credibility at risk. This note looks at the experience and credibility of five major EM central banks during this period.
The Bank of England Buys Itself Time
The Bank of England unsurprisingly raised its policy rate by 25 bps at its May meeting, but the Bank’s messaging distinguished it from the Fed’s and the ECB’s decisions last week.
Podcasts
Fixed on ESG, Ep. 13
A look at desalination as a potential solution for freshwater scarcity and what it means for investors.
All the Credit, Ep. 39
Daleep Singh examines the U.S. debt-ceiling crisis, potential outcomes, and probabilities.
Perspectives & Outlooks
Supply Chain Strain: Assessing the Divergence Between the Euro Area and the U.S.
The latest edition to our series analyzes the implications of supply shocks, extends our framework to the Euro Area, and compares its performance to the U.S.
View from the Desk
The Signal from the Labor Market Noise
Our View from the Desk for the week of June 5 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
Debt-Ceiling Scars and Shifting Probabilities
Our View from the Desk for the week of May 22 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
The Implications of Shifting Policy Paths
Our View from the Desk for the week of May 15 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
Past performance is not a reliable indicator of future results. There is no guarantee that objectives will be met. All investments involve risk, including possible loss of capital.
Source of data (unless otherwise noted): PGIM Fixed Income.
Note: Staffing as of March 31, 2023.